Public Employees Retirement Association of Colorado lowered its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,383 shares of the industrial products company’s stock after selling 6,045 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Emerson Electric were worth $8,260,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Emerson Electric by 2.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,040,964 shares of the industrial products company’s stock valued at $90,710,000 after acquiring an additional 23,535 shares during the period. West Coast Financial LLC purchased a new stake in Emerson Electric during the second quarter valued at about $206,000. Bailard Inc. grew its position in Emerson Electric by 7.0% during the second quarter. Bailard Inc. now owns 38,231 shares of the industrial products company’s stock valued at $3,456,000 after acquiring an additional 2,489 shares during the period. DAVENPORT & Co LLC grew its position in Emerson Electric by 2.6% during the second quarter. DAVENPORT & Co LLC now owns 68,809 shares of the industrial products company’s stock valued at $6,220,000 after acquiring an additional 1,751 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in shares of Emerson Electric during the second quarter worth about $365,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday, September 15th. Morgan Stanley boosted their price objective on Emerson Electric from $107.00 to $116.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Royal Bank of Canada reduced their price objective on Emerson Electric from $109.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Citigroup reduced their price objective on Emerson Electric from $112.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Finally, UBS Group cut Emerson Electric from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $97.00 to $104.00 in a research note on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $105.63.
Emerson Electric Stock Up 2.2 %
Shares of Emerson Electric stock opened at $88.53 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The firm has a market cap of $50.81 billion, a P/E ratio of 3.86, a P/E/G ratio of 1.49 and a beta of 1.38. Emerson Electric Co. has a fifty-two week low of $76.94 and a fifty-two week high of $100.62. The business has a 50-day moving average price of $93.92 and a 200 day moving average price of $90.78.
Emerson Electric (NYSE:EMR – Get Free Report) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.20 billion. Emerson Electric had a net margin of 87.17% and a return on equity of 11.78%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. On average, sell-side analysts forecast that Emerson Electric Co. will post 5.26 earnings per share for the current fiscal year.
Emerson Electric Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 2.37%. Emerson Electric’s dividend payout ratio is 9.08%.
In other news, CMO Vidya Ramnath sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total transaction of $244,650.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Emerson Electric news, Director Arthur F. Golden acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $85.64 per share, with a total value of $256,920.00. Following the acquisition, the director now directly owns 97,504 shares of the company’s stock, valued at approximately $8,350,242.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Vidya Ramnath sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total value of $244,650.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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